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The Landis Corporation had 2008 sales of $100 million. The

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The Landis Corporation had 2008 sales of $100 million. The balance sheet items that vary directly with sales and the profit margin are as follows:
Percent
Cash 5%
Accounts receivable 15
Inventory 25
Net fixed assets 40
Accounts payable 15
Accruals 10
Profit margin after taxes 6%
The dividend payout rate is 50 percent of earnings, and the balance in retained earnings at the end of 2008 was $33 million. Common stock and the company’s long-term bonds are constant at $10 million and $5 million, respectively. Notes payable are currently $12 million.
Submitted: 7 years ago.
Category: Homework
Expert:  SteveS replied 7 years ago.

HiCustomer

Here's the solution. The link will take you to an external site called Mediafire, where the Excel file is stored. Please download the file and save a copy locally on your computer. If you have any questions, please let me know. If you are satisfied with the answer, please remember to click the Accept button. Thanks.

Steve

Customer: replied 7 years ago.
I am having a problem downloading the file. Do you have a different avenue?
Customer: replied 7 years ago.
I viewed the file. I need the sales increase to equal 20% from 2008. Would you have it in that format? I will accept with that percentage. Thanks for your help.
Expert:  SteveS replied 7 years ago.
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